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Real estate company Oliver Hume is facing three lawsuits from overseas investors seeking to get back the $12 million they invested in a mortgage fund that provided funding to property developers.
A judge is expected to issue a temporary injunction Thursday barring Facebook and Instagram from blocking users who are customers of a Melbourne-based social media startup that has accused the companies of trying to quash competition.
Melbourne-based fintech ISignthis and its directors are facing a possible shareholder class action over a December profit downgrade.
Unfunded group members in two shareholder class actions against online fashion retailer Surfstitch have been told they are likely better off to opt out of a settlement if a judge approves $6 million in fees and a 30 per cent commission sought by the law firms and funder that brought the cases.
The funders behind two shareholder class actions against online fashion retailer Surfstitch Group will seek a commission of up to 30 per cent while the law firms that brought the cases will ask for approval of up to $6 million in legal fees during an upcoming settlement approval hearing, which also puts the fate of a deed of company arrangement that saved the company from liquidation on the line.
A judge has ordered the legal teams behind two settled Surfstitch class actions to have another crack at the opt out notice, saying the current version is "just too confusing" for group members.
Quintis founder Frank Wilson has won his bid for unredacted transcripts of ASIC examinations with six former directors of the failed sandalwood company.
The Australian Prudential Regulation Authority will not challenge a Federal Court ruling that dismissed its case against fund manager IOOF as “unpersuasive”, “fundamentally inadequate” and “tenuous in the extreme”.
Online fashion retailer Surfstitch has reached an in-principle settlement in two shareholder class actions, about nine months after an initial agreement to resolve the dispute derailed.
Ernst & Young, which is facing a lawsuit brought by the receiver of a fund overseen by failed financial services firm LM Investment Management, has lost its bid to file a claim for damages against LMIM, with a judge saying the auditor's case was "flawed" and "counterintuitive".